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The US and China have agreed to a 90-day truce in their trade war, slashing tariffs significantly. Both sides claim victory, though analysts suggest the US made more concessions. US tariffs on Chinese goods will drop to 30%, while China's tariffs on US goods will fall to 10%. The agreement includes a mechanism for continued discussions, but key issues like China's trade surplus remain unresolved. The rapid resolution surprised many, indicating the trade war's negative impact on both economies. However, the truce is temporary, and further negotiations are expected.

Prepared by Christopher Adams and reviewed by editorial team.